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Addison Group launches $525 million term loan B at Libor plus 450 bps
By Sara Rosenberg
New York, Jan. 6 – Addison Group launched on Thursday its $525 million term loan B (B) with price talk of Libor plus 450 basis points with a 0.5% Libor floor and an original issue discount of 99, according to a market source.
The term loan has 101 soft call protection for six months, the source said.
KKR Capital Markets and Credit Suisse Securities (USA) LLC are the leads on the deal.
Commitments are due on Jan. 19, the source added.
The company is also getting a $65 million ABL revolving credit facility.
Proceeds will be used to help fund the buyout of the company by Trilantic North America from Odyssey Investment Partners LLC.
Addison Group is a Chicago-based professional services firm specializing in talent solutions and consulting services.
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